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Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Grocery and convenience stores
1101 5th St Polk City, IA 50226-2195
Entity Owned
13-yr Hold
Free & Clear
Property ID
US25-2580609
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2013
Construction
STEEL FRAME
Total area
19,180 SF
Lot
1.95 ac (85,029 SF)
Zoning code
C-2
APN
261/00305-250-002
UPID
US25-2580609
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.72M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.11M
Owner & transaction history
Fareway Stores INC · 13 yrs held
Fareway Stores INC
since 2013
3 recorded transactions
Zoning & alternative use
C-2 · Polk City, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+47.6%
Auto repair, garage
$3.0M
+33.1%
Apartment house (5+ units)
$2.9M
+29.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Polk City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Polk City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,950,000
6.5%
$2,720,000
7%
$2,525,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,240,000
Current use
RESTAURANT
$3,300,000
Change: +48% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,980,000
Change: +33% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,905,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$2,895,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,100,000
Change: -6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,890,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$63,058
Tax year 2020
Assessed value
$1,820,000
Assessed 2023
Previous assessed
$1,820,000
+0.0% YoY
Effective rate
3.46%
On assessed value
Assessed land
$567,000
Assessed improvement
$1,253,000
Land market value
$567,000
Improvement market value
$1,253,000
Total market value
$1,820,000
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2013
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
2
Total area
19,180 SF
Lot
1.95 ac (85,029 SF)
Zoning code
C-2
APN
261/00305-250-002
UPID
US25-2580609
Jurisdiction
POLK
Zoning & alternative use
C-2 · Polk City, IA
Zoning C-2 · permitted uses
C-2 · Polk City, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Polk City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Fareway Stores INC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 70, BOONE, IA 50036-0070
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2013
$500,500
Fareway Stores INC
Grinnell St Bk
Grant Deed
—
Dec 22, 2005
$549,500
The Pines LLC
Reinhart & Quails LLC
Corporation Deed
$647,524 · Polk County Bank
Jan 18, 2005
$550,000
Pines LLC
Reinharts & Quail LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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